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HomeMy WebLinkAbout2005 03-16 FCA• AGENDA Brooklyn Center Financial Commission Wednesday, 16 March 2005 7:00 PM Council Commission Conference Room I. Call to Order II. Roll Call III. Approval of Agenda IV. Meeting Minutes 14 October 2004 15 November 2004 V. Election of Chairperson for 2005 Chairperson shall appoint Vice Chairperson VI. Opportunity Site Task Force Information VII. Welcome and Orientation of New Members VIII. Calendar of Joint Commission/City Council Meetings IX. Other Business X. Adjournment 0 • /I/ AGENDA Brooklyn Center Financial Commission Wednesday, 16 March 2005 7:00 PM Council Commission Conference Room I.' Call to Order If. Roll Call ITI' Approval of Agenda • Af. Meeting Minutes 14 October 2004 15 November 2004 ,V!' Election of Chairperson for 2005 Chairperson shall appoint Vice Chairperson VI: Opportunity Site Task Force Information Welcome and Orientation of New Members VII3' Calendar of Joint Commission/City Council Meetings IX.' Other Business X. Adjournment • I Financial Commission Regular Meeting Minutes 14 October 2004 1. Call to Order The meeting was called to order at 7:05 PM 2. Roll Call Members Present: Chair Escher and Commissioners Hruska, Nemec, Shogren Smith, and Councilmember Carmody. Commissioners Elftmann and Simons were excused absences. Commissioner Peterson was absent. Others Present: Director of Fiscal & Support Services Jordet 3. Agenda • Mr. Hruska proposed and Mr. Nemec seconded a motion to adopt the agenda. With all voting in favor, the motion was adopted. 4. Minutes Mr. Hruska proposed and Mr. Nemec seconded a motion adopting the minutes of the 16 August 2004 and 9 September 2004 meetings as presented. With all voting in favor, the motion was adopted. 5. Fund Balances and Reserve Policy Mr. Jordet reviewed the proposed changes to Section 2.3.D paragraphs 1 & 2 of the Financial Policies of the City. It was requested that the Financial Commission be informed when a transfer is made under this section of the Financial Policies. To address this issue it was suggested that paragraph 2 be amended to include the phrase, "The Financial Commission shall be informed of such transfers." With that change, Ms. Shogren-Smith proposed and Mr. Hruska seconded a motion adopting the revised policy and recommending it to the City Council for adoption. With all voting in favor, the motion was adopted. • 1 6. Reports Mr. Jordet reminded Commission members that Financial Advisor interviews will • be conducted in the City Council Chambers on Tuesday, 26 October 2004 beginning at 9:00 AM. Commissioners Elftmann and Shogren-Smith are the Commission representatives to that group. The next meeting of the Commission will be a joint budget work session with the City Council on Monday15 November 2004 in the Council Commission Conference Room. 7. Adjournment Mr. Hruska proposed and Mr. Nemec seconded adjournment of the meeting. Chair Escher adjourned the meting at 7:27 PM. Donn Escher, Chairperson ATTEST: Daniel Jordet, Director of F & SS • • 2 • Financial Commission Work Session Meeting Minutes 15 November 2004 1. Call to Order At-kit" The meeting was called to order by Ofrattfiskor a 6:30 PM (This is a joint work session with the Brooklyn Center City Council) 2. Roll Call Members Present: Commissioners Nemec, Hruska, Shogren Smith, and Simons. Commissioners Escher and Elftmann were excused. Commissioner Peterson was absent. Others Present: City Manager McCauley, Assistant City Manager Boganey, Director of Public Works Blomstrom, and Director of Fiscal & Support Services Jordet. 3. Budget Review • City Manager McCauley provided updated information regarding the 2005 budget for The Liquor and Earle Brown Heritage Center Funds. The capital Improvements Program for 2005 through 2009 was reviewed by Mr. Blomstrom 4. General Discussion A question about FTE employment was raised. Mr. McCauley indicated that Full time staff FTE is 150 now compared with 166.5 in 2000. A request was made for more detailed property tax impact information regarding waterfront properties. Mr. McCauley indicated that such information would be available at the Truth in Taxation hearing. 5. Adjournment The work session meeting adjourned at 9:04 PM. • 3 MINUTES OF THE PROCEEDINGS OF THE CITY COUNCIL OF THE CITY OF BROOKLYN CENTER IN THE COUNTY • OF HENNEPIN AND THE STATE OF MINNESOTA WORK SESSION WITH FINANCIAL COMMISSION NOVEMBER 15, 2004 COUNCIL/COMMISSION CONFERENCE ROOM CALL TO ORDER The Brooklyn Center City Council met for a Work Session with the Financial Commission at City Hall and was called to order by Mayor Myrna Kragness at 6:30 p.m. ROLL CALL Mayor Myrna Kragness, Councilmembers Kathleen Carmody, Kay Lasman, Diane Niesen, Bob Peppe. Also present: City Manager Michael McCauley, Assistant City Manager/Director of Operations Curt Boganey, Director of Public Works Todd Blonistrom, and Director of Fiscal and Support Services Daniel Jordet. Commission Members present were Jay Hruska, Mark Nemec, Susan Shogren Smith, and Earl Simpfons. Commission Chair Donn Escher and Commissioner Timothy Elftmann were absent and excused. Commissioner Lawrence Peterson was absent and unexcused. 1111 LIQUOR FUND City Manager Michael McCauley opened the discussion of the Liquor Fund Budget for 2005 with an overview of the changes made in the liquor store configurations starting with the reduction from three stores to one and finishing with the opening of new store number two last January. He indicated that the ramp up of activity at the new store was not happening as quickly as anticipated. Store number one would be working better utilization of personnel for cost savings. He indicated that the Liquor Fund has a strong fund balance for equipment replacement and cash flow. Several activities are taking place to attempt to increase sales at both stores including accepting competitors' coupons and examining other successful municipal stores to glean operational efficiencies and marketing strategies from their successes. It was indicated that the current quarter of October/November/December is traditionally the busiest season for the stores. Even so, it is likely that we will not achieve our net income goals for 2004. 11/15/2004 • Ill 4 • The topic of transfer to the Capital Projects Fund ensued. City Council set a target indicating that the —, floor for annual transfer from the Liquor Fund to the Capital Fund would be$75,000. Ifperformance improves the Council may transfer additional funds. The currently budgeted transfer for 2005 will be $125,000. EARLE BROWN HERITAGE CENTER There are no major changes proposed for the Earle Brown Heritage Center(EBHC)in the near term. Operations will continue as they currently occur. Longer-term revenues are relatively flat,however; a strategic plan must be developed for the longer-term continuation and success of the operation by increasing revenues. The impact of a proposed hotel adjacent to the facility should be positive. Revenues for 2005 are lower because the budget is formulated conservatively assuming a flat economy. There is some capacity for increase in revenues with booking spaces open. The Inn on the Farm has to be run as an all or nothing proposition or the losses will be very large. Depreciation for the EBHC facility is not being funded. Some money is being set aside for capital improvements in a separate capital fund but the depreciation is not fully funded. It will likely never be fully funded by the operations of the facility. CAPITAL IMPROVEMENT PLAN Director of Public Works/City Engineer Todd Blomstrom reviewed the Capital Improvement Plan as • proposed for 2005. There was discussion regarding the street reconstruction plan. It appears that the plan is on track and will be completed in its initial phase by 2018. GENERAL FUND Mr.McCauley provided an explanation of the cafeteria benefit system and its increase for 2005. The proposal reflects the discussion held in August 2004 and the preliminary property tax levy adopted in September. The rationale for applying the majority of the audit fees to Mayor-Council was questioned. As the audit is done under the direction of the Mayor and Council and is addressed to them, it was most appropriate to apply the costs to that division. There followed an extensive conversation on compensation including comparisons with other cities and private sector compensation. GENERAL DISCUSSION A question was raised about the current FTE employment. Full time FTE is 150 in 2004 compared with 166.5 in 2000. • 11/15/2004 5 A request was made for more specific tax impact information regarding the waterfront properties. Mr. McCauley responded that such an analysis would be part of the Truth in Taxation presentation. . ADJOURNMENT The meeting was adjourned at 9:04 p.m. City Clerk Mayo • 11/15/2004 • 6 • Memorandum Date: 11 March 2005 To: Financial Commission From: Daniel Jordet Director of Fiscal & Support Services Re: Background for Agenda Items 16 March 2005 Item V. Election of Chairperson The Chairperson is elected by the Commission at the first meeting of each year, as indicated on pages 28 and 29 of the Financial Policies attachment. The Chairperson then appoints a Vice Chairperson. • Council Member Diane Niesen will be serving as City Council Liaison in 2005. Item VI. Opportunity Site Task Force Information Tim Willson, Chair of the Opportunity Site Task Force will be present to give the Commission an update on the Task Force's mission and activities. Item VII. Welcome and Orientation of New Members The Commission will welcome two new members at the 16 March 2005 meeting; Robert Anderson and Robert Paulson. The enclosed Financial Policies document will serve to familiarize new members with some of the guiding principle and policies of the Financial Commission and of the City of Brooklyn Center. If you have any questions about these materials please contact me at either djordet©ci.brooklyn-center.mn.us or call me at 763/569-3345. I 7 Item VIII. Calendar of Joint Commission/City Council Meetings 0 During the coming year there will be four joint meetings with the City Council to discuss various financial issues. They are: • Monday, 16 May 2005 at 6:30 PM to discuss the 2004 Comprehensive Annual Financial Report and the beginnings of the 2006 Budget. • Monday, 15 August 2005 at 6:30 PM to discuss the ongoing progress of the 2006 Budget. • Monday, 3 October 2005 at 6:30 PM to discuss the Enterprise Fund Budgets for 2006, including any recommended rate adjustments. • Monday, 21 November 2005 at 6:30 Pm for a final review of the 2006 Budget prior to the Truth in Taxation hearing. A calendar of all City Council meetings is included for your reference. cc: City Manager McCauley • • 8 City of Brooklyn Center ADOPTED 12/13/04 2005 City Council Meeting Schedule • Regular City Council Meetings Special City Council Meetings Council Chambers All dates are Monday unless otherwise noted. City Hall February 5 (Saturday) 8:30 a.m. Facilitated Retreat EBHC Loft Study/Work Session 6:00 p.m. March 21 6:30 p.m. Informal Open Forum 6:45 p.m. Joint Session w/Commission Chairs CR May 2 7:00 p.m. Regular Session 7:00 p.m. Board of Appeal & Equalization CC Work Session immediately following May 16 6:30 p.m. (Continued) Regular Session Work Session w/Auditor and Budget Work Session w/Financial Commission CR Brooklyn Center City Council regularly August/September meets the 2nd and 4th Monday each (Date to Be Determined) 8:30 a.m. month, unless Monday is a holiday. Facilitated Retreat EBHC Loft January 10 August 15 6:30 p.m. January 24 Budget Work Session February 14 w/Financial Commission CR February 28 October 3 6:30 p.m. March 14 Budget Work Session (Enterprise Funds) March 28 w/Financial Commission CR April 11 November 21 6:30 p.m. April 25 Budget Work Session May 9 w/Financial Commission CR May 23 December 5 7:00 p.m. • June 13 Initial Truth In Taxation CC June 27 December 12 6:00 p.m. July 11 Continuation Truth In Taxation (if needed) CC July 25 August 8 August 22 September 12 September 26 October 10 October 24 November 14 November 28 December 12 All dates are subject to change. Call City Hall at 763-569-3300 to verify dates and times. Strikeout indicates meeting has been CANCELED. 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